FICO

SEPTEMBER 10, 2020

Typically, money mules are unwittingly tricked into depositing a fraudulent check into a bank account or into receiving money from accounts without authorization of the account owner. Consumers are taking “mobile to the max” by using their phones for mobile deposit, contactless payments and person-to-person payments.

Crime 52

Crime Money Laundering Online and Mobile Banking Romance Scams 52

PYMNTS

AUGUST 5, 2019

Perhaps that’s why, in the midst of the seemingly never-ending stream of headlines about data breaches, account takeovers, stolen credit cards and online fraud , the notion of “check fraud” seems something of an outlier for the up-and-coming fraudster looking to make a decent living. And the death of checks – sooner rather than later.

Checks 65

Checks Instant Payments Online and Mobile Banking Irrevocability 65

FICO

FEBRUARY 24, 2022

Just last month, the Bank of the Philippine Islands flagged rising cases of criminals using another person’s bank account to launder money. According to the FBI , a money mule is someone who transfers or moves illegally acquired money on behalf of, or at the direction of another. What Exactly Is Money Muling?

Money Laundering 52

Money Laundering Financial Crimes Crime AML 52

FICO

JANUARY 10, 2023

Scams that took place in the online environment were particularly prevalent, with people particularly at risk when they pushed to use digital channels that they weren’t used to. Banks and financial institutions will have to refund unauthorised payments, unless their customers have broken the rules or been ‘grossly negligent.’

Scams 52

Scams Posting Push-to-Card Compromise 52